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(ii) Borrower hereby constitutes and appoints Lender its true and lawful <br />attorney -in -fact with full power of substitution either in the name of <br />Lender or in the name of Borrower or in the name of both, for the <br />following purposes: (A) to prosecute and defend all actions or <br />proceedings in connection with the Loan Property and do any and <br />every act which Borrower might do in its own behalf, (B) to perform <br />each of the terms, covenants and conditions to be kept and <br />performed by Borrower under any contracts and /or leases obtained <br />or held by Borrower in connection with the operation of the Loan <br />Property and any other contracts; (C) without limiting the foregoing, <br />to perform each of the terms, covenants and conditions to be kept or <br />performed by Borrower under this Agreement and any other <br />instrument required under this Agreement; and (D) to do all things <br />that Lender reasonably deems necessary or advisable for the purpose <br />of carrying out the powers enumerated in (A), (B), (C) and (D) of <br />this paragraph (ii); <br />(iii) The powers herein granted Lender shall be deemed to be powers <br />coupled with an interest and the same are irrevocable; <br />(b) cancel this Agreement and not advance any further amounts hereunder; <br />(c) bring appropriate action to enforce such performance and the correction of <br />such Event of Default; <br />(d) declare the entire unpaid principal of the Note and all accrued interest <br />thereon immediately due and payable without notice; <br />(e) foreclose the Mortgage or any security instrument referred to in this <br />Agreement and /or exercise any other rights or remedies it may have under the Entity <br />Guaranty, the Personal Guaranty, the Mortgage, and any other security instruments. <br />16. Default under Note. The failure by Borrower to keep or perform any of the terms, <br />covenants and conditions to be kept or performed by it under this Agreement shall constitute a <br />default under the Note, the Mortgage, and any other security instrument held by Lender in <br />connection with the Loan. <br />17. Notices. Any notices given hereunder shall be in writing and shall be deemed to <br />have been given when delivered personally or three (3) days after deposited in the United States <br />mail, registered, postage prepaid, addressed as follows: <br />If to Borrower <br />Truck Shop, Inc. <br />c/o Beaudry Oil and Service, Inc. <br />630 Proctor Avenue <br />Elk River, MN 55330 <br />Attention: Kenneth J. Beaudry <br />8 <br />498527v1 EL185 -51 <br />